Advanced Micro Devices (AMD) Stock Soars to Record Heights Following Intel’s Stellar Earnings
Advanced Micro Devices (AMD) shares rose over 10% in premarket trading on April 24 after Intel's strong first-quarter earnings and upgrades from Wall Street analysts. Analysts anticipate AMD's upcoming earnings announcement on May 5 could significantly exceed current projections.
Advanced Micro Devices (AMD) shares surged over 10% in premarket trading on April 24, breaking past $340 to reach new record highs. Intel's exceptional first-quarter performance, with revenue of $13.6 billion and earnings per share of $0.29, sparked optimism in the semiconductor industry. D.A. Davidson upgraded AMD to a Buy rating, increasing its price target from $220 to $375. Stifel maintained its Buy recommendation, boosting its price target from $280 to $320, highlighting AMD's critical role in AI data center infrastructure. AMD's earnings announcement is scheduled for May 5, with analysts expecting results that could exceed current projections. The company's comprehensive product portfolio, including CPUs and GPUs for AI-focused data center servers, is seen as a key growth driver.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.